Futuring the Dairy Farm Business: In, Out, Moving Ahead

Futuring the Dairy Farm Business:
In, Out, Moving Ahead
Wednesday, February 17, 2010
Shisler Center, OARDC, Wooster

2009 was a pitiful and challenging year
for the dairy business. This economic
disaster has both short and long term
implications for our dairy businesses.
Good farms could easily have added at
least $1000 of debt per cow last year
simply for the privilege of milking
cows…not to increase efficiency or prof-
itability! Others, who have had particular
difficulty, face the dilemma of continuing
their dairy farms. Being able to accu-
rately evaluate the current situation
and alternatives knowing the implica-
tions of a partial or full dispersal on
their financial situation is critical.
You will go home with tools and the
ability to evaluate your farm’s historic
production costs and project future
costs. Resource materials include cost
of production worksheets, the “15
Measures of Dairy Farm Competitive-
ness” bulletin and proceedings from all breakout sessions.

Morning Program
-Easily calculating and using your
cost of production
-Snapshot Milk Price Outlook

Afternoon Breakout Sessions
Track I: Managing milk prices
at the farm level
-Class III Milk Futures and options
-Livestock Gross Margin Insurance
-Working with your lender when
contracting
Track II: Legal Issues
-Using and understanding security
agreements
-Understanding default provisions
on notes
-Closing out the dairy business
-Legal considerations
-Tax implications
-People considerations

Objective:
To provide dairy producers with tools to
evaluate their current business position
and make informed and effective deci-
sions to meet their farm’s and family’s
short and long term objectives.

10:00 a.m. Registration and refreshments
10:30 a.m. - Welcome
3:00 p.m. - Adjourn

Speakers:
Eric Meyer, Risk Management Consultant
Downes-O'Neill, FCStone
Cam Thraen, OSU Dept of Agricultural,
Env. and Dev. Economics
Warren Graeff, Market Manager,
Agri Banking, PNC Banking
Peggy Hall, Director, OSU Ag and Rural
Law Program
Paul Wright, Attorney, Wright Law
Company, LPA
Dianne Shoemaker, OSU Extension
Dairy Management

Reservations:
The first 100 dairy producer reservations are
fully covered by outstanding sponsor support.
Reservations for industry personnel and pro-
ducer reservations after the first 100 seats
have been reserved will be accepted at the
$30 per person cost. Please make reserva-
tions as soon as possible, and no later than
February 12th.

Email lingle.1@osu.edu or call 330-264-8722
to make reservations.
Deadline to register is
February 12th.

OSU Extension Wayne County
428 W. Liberty St.
Wooster, OH 44691
Phone: 330-264-8722